StubHub sets up an LMS (Last Minute Services) center near Indio each year so that people who order tickets last minute can pick them up in person. According to someone working at the LMS this year, Coachella has allegedly been listing unsold festival passes directly on StubHub. This is not particularly uncommon for big events—other bands and sporting teams have been known to put unsold tickets directly on resale sites to maximize exposure to sell the tickets. However, this is, to my knowledge, the first time Coachella has allegedly done so. Assuming it’s true (I believe it is), it would support the rumor that demand is a lot lower this year, and help explain why prices on the resale sites have fallen so low—Coachella is allegedly flooding the resale market with tickets.

One more piece of supporting evidence can be found in an insane discrepancy between tickets listed on StubHub vs Vividseats:

StubHub Weekend 1: 4,058 tickets

Vividseats Weekend 1: 1,145 tickets

StubHub Weekend 2: 5,414 tickets

Vividseats Weekend 2: 718 tickets

I wouldn’t expect StubHub and Vividseats to have exactly the same number of tickets listed, but such a huge discrepancy is highly unusual. Take a look at another upcoming festival that claims to be sold out (Bottlerock), and you’ll see that the gap is much smaller:

StubHub: 1,123 tickets

Vividseats: 986 tickets